January 1, 2011
Ethics, according to the textbook, are defined as the principles, values, and beliefs that set standards for right or wrong decisions and behavior. There are four major models of ethics, including utilitarian, moral rights, theory of justice and integrative social contracts theory. Utilitarian refers to the idea that moral worth of a behavior is solely determined by the consequence, to see whether it’s maximizing utility. Moral rights respect and protect a set of fundamental rights, which contain right to freedom of speech, thought, movement, association, privacy and equal protection. Theory of justice involves the behavior that treats people impartially and fairly based on legal rules. Integrative social contracts theory defines a kind of behavior that is based on existing ethical norms in industries and communities. As for me, I prefer the combination of theory of justice and integrative social contracts theory, which are between the other two alternatives. Utilitarian and moral rights are like two extremes in terms of the business world, utilitarian solely concentrates on company interests and maximum profits while ignoring interests of staff, which may lead to their dissatisfaction and hatred whereas moral rights emphasize the fundamental rights of employees, but giving them too much freedom may result in their distraction, slack off and eventually neglecting the goal of company. Therefore, both these models are not beneficial to the long-term development of company. However, the combination of theory of justice and integrative social contracts theory is a good idea because they treat employees fairly based on the legal rules and existing norms and at the same time adheres to the objectives of business. If I were the CEO of a company, I would make each ethical decision based on legal regulations as a benchmark and then judge whether it’s appropriate or fit for corporation culture according...